Primecap Management Co. CA Has $126.18 Million Stake in NIKE, Inc. $NKE

Primecap Management Co. CA lifted its position in NIKE, Inc. (NYSE:NKE) by 1.1% in the second quarter, Holdings Channel.com reports. The institutional investor owned 1,776,130 shares of the footwear maker’s stock after buying an additional 19,700 shares during the period. Primecap Management Co. CA’s holdings in NIKE were worth $126,176,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Stone House Investment Management LLC acquired a new position in shares of NIKE during the 1st quarter worth approximately $25,000. Mascoma Wealth Management LLC acquired a new stake in shares of NIKE during the second quarter worth $26,000. Halbert Hargrove Global Advisors LLC boosted its holdings in NIKE by 952.6% in the 2nd quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker’s stock valued at $28,000 after purchasing an additional 362 shares during the period. Saudi Central Bank acquired a new stake in NIKE during the first quarter worth approximately $30,000. Finally, Matrix Trust Co increased its position in shares of NIKE by 53.1% in the second quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock worth $31,000 after purchasing an additional 153 shares during the period. Institutional investors own 64.25% of the company’s stock.

Insider Buying and Selling

In other NIKE news, Chairman Mark G. Parker sold 86,078 shares of the business’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $64.80, for a total value of $5,577,854.40. Following the completion of the transaction, the chairman owned 647,615 shares of the company’s stock, valued at approximately $41,965,452. The trade was a 11.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Treasure Heinle sold 4,300 shares of the firm’s stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of $71.27, for a total transaction of $306,461.00. Following the completion of the sale, the executive vice president owned 29,396 shares in the company, valued at $2,095,052.92. This represents a 12.76% decrease in their position. The SEC filing for this sale provides additional information. 0.80% of the stock is owned by corporate insiders.

NIKE Price Performance

NKE opened at $62.79 on Thursday. The firm has a market cap of $92.81 billion, a PE ratio of 32.20, a P/E/G ratio of 2.41 and a beta of 1.29. The stock has a 50-day moving average price of $67.82 and a 200-day moving average price of $68.85. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $82.44. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.19 and a quick ratio of 1.45.

NIKE (NYSE:NKE) last issued its earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.22. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The business had revenue of $11.72 billion during the quarter, compared to analysts’ expectations of $10.96 billion. During the same period in the previous year, the company earned $0.70 earnings per share. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. Sell-side analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on NKE. TD Cowen upgraded NIKE from a “hold” rating to a “buy” rating and upped their target price for the company from $62.00 to $85.00 in a report on Wednesday, September 10th. Telsey Advisory Group restated a “market perform” rating and set a $75.00 target price on shares of NIKE in a research report on Wednesday, October 1st. DZ Bank raised shares of NIKE from a “hold” rating to a “buy” rating in a report on Wednesday, October 1st. Stifel Nicolaus set a $68.00 price objective on shares of NIKE and gave the company a “hold” rating in a research report on Wednesday, October 1st. Finally, KeyCorp set a $90.00 target price on NIKE and gave the stock an “overweight” rating in a research note on Thursday, October 2nd. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $82.24.

About NIKE

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, accessories, and services worldwide. The company provides athletic and casual footwear, apparel, and accessories under the Jumpman trademark; and casual sneakers, apparel, and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron, and Jack Purcell trademarks.